Ambarella Inc. (AMBA) Stock Price Down 6.8%
Shares of Ambarella Inc. (NASDAQ:AMBA) traded down 6.8% during mid-day trading on Friday . The company traded as low as $65.04 and last traded at $66.89, with a volume of 3,631,626 shares trading hands. The stock had previously closed at $71.78.
A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “neutral” rating on shares of Ambarella in a research report on Friday, June 3rd. Vetr cut Ambarella from a “sell” rating to a “strong sell” rating and set a $61.77 price objective for the company. in a research report on Tuesday, August 30th. Zacks Investment Research cut Ambarella from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Canaccord Genuity lifted their price objective on Ambarella from $85.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank AG reissued a “hold” rating and set a $47.00 price objective (up previously from $45.00) on shares of Ambarella in a research report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $67.06.
The stock’s 50-day moving average is $62.34 and its 200 day moving average is $48.86. The stock has a market cap of $2.20 billion and a PE ratio of 38.08.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, September 1st. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.16. The firm had revenue of $65.10 million for the quarter, compared to the consensus estimate of $64.02 million. Ambarella’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. Equities research analysts anticipate that Ambarella Inc. will post $2.63 EPS for the current fiscal year.
In other news, CEO Feng-Ming Wang sold 9,573 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $51.97, for a total value of $497,508.81. Following the completion of the transaction, the chief executive officer now owns 278,346 shares in the company, valued at approximately $14,465,641.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher Day sold 1,173 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $50.85, for a total value of $59,647.05. Following the completion of the transaction, the vice president now owns 23,532 shares of the company’s stock, valued at approximately $1,196,602.20. The disclosure for this sale can be found here.
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.